4/21/2008

Hendricks & Partners sells St. Louis apartments

by Chad King

Parcade Apartments

The St. Louis, Mo., office of Hendricks & Partners has completed the sale of the Parcade Apartments in the Central West End of St. Louis for an undisclosed price.

Paul Cunningham represented the seller, Damian Loftus of Sunland, Calif., in the transaction.

The Parcade Apartments contain 42 units and are located at 4394 West Pine Blvd. It contains a mix of studio and one-bedroom units and was sold with a 7.38 capitalization rate.

Loftus is the director of Commodore Assets Ltd., a property investment firm that specializes in structuring syndicated property deals.

Address: 4394 West Pine Blvd., St. Louis, Mo.

Size: 42 units

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Filed Under: Multi-Family

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